Observations and Insights

What Are Key Performance Indicators?

Chuck Bankoff - Monday, April 02, 2012

How well your Internet marketing campaign is performing is most indicative of your Key Performance Indicators (KPI). These are the big things that make a noticeable difference.

Your “Bounce Rate” (where visitors view your website, but never move past the home or landing page), for example, is a big indication that there is a problem with the relevance of your landing page to the visitor that is viewing it.

There is no set standard KPI for every business. The objective depends on what your end results are. Say you are in a service related industry; a primary KPI would be the amount of phone calls your company received by its online efforts. As you investigate more, the length of every phone call would tell you even more than that. Shorter phone calls, under a minute, could tell you that no one actually answered the phone and never left a message. A longer phone call can tell you that your customer is being helped to solve any issues they may have had.

There are many different things that can indicate your KPI such as “Time on Site,” which tells you how appealing your website is and the “Pages Visited” can tell you whether your sales funnel is set up accurately. Sometimes the impact of your KPI is not always quite obvious and it can take a pinpoint strategy to understand what it all means.

Key Performance Indicators are typically unique to every different business as well as their individual objectives. Here are a few that I deem relevant to an assortment of businesses:

Common KPI Definitions

Visit– This is where a person visits one or more of your web pages under 30 minutes time in between page visits.

Visitor – A visitor is someone who visits your website. These people can be placed into three groups:

  1. New Visitor– A new visitor is only noted once and includes those who have never visited your site previously. This is different than a unique visit and is can be measured over certain amount of time.
  2. Repeat/Returning Visitor – A person that visits your website more than two times over a certain period of time. These types of visits are only recorded once in a given amount of time.
  3. Unique Visitor – The first time a person goes to your website during a particular amount of time, either daily, weekly, or monthly, is called a unique visitor.

Conversion – This is when a customer or visitor finishes the action you set up for them, such as completing a web form or purchasing something.

Key Performance Indicator Examples

General KPI

  • Average Time on Site –This is where a person who visits your website looks for certain phrases or keywords that have relevance to what they are looking for. In turn they will spend more time on that page than if they did not find what they were looking for in their search.
  • Page Views / Visit – The amount of times a visitor views your website is a page view or visit. Numerous visits will have an effect on the amount counted.
  • Page Views / Visitors – This is comparable to page views/visits, but it overlooks the number of visits that certain visitors make.
  • New Visitors / Visitors – This follows the number of people who are first time visitors. This is a great way to determine new prospective clients.
  • Repeat Visitors / Visitors – These are returning people that have previously come to your website. This shows that your website has the ability to attract visitors back to your site.

KPI is Important – Take your KPI to the Next Level

Measuring how well the strategies you use in your business to produce a positive effect starts with the  inclusion of the development of your KPI and reaching the Internet marketing goals you have set. Your KPI can give you warning signs early on and can help you figure out what works and what does not. As soon as you get the results from reviewing your KPI, you can adjust the parts of your business that are not as effective and boost those that are working positively.

A KPI does require more evaluation that you’d think. A professional digital marketing specialist is someone who can help you analyze a KPI with proficiency. Interpreting data and certain experimentation should be set up to gage cause and effects of incremental changes within your business. A Professional Digital Marketing consultant can even prepare a Competitive Analysis on the KPIs of direct competitors in your industry.

Offline Conversions - Measuring Phone Calls

Chuck Bankoff - Wednesday, January 18, 2012

Offline conversions are very important and many businesses overlook just how important they are. You should remember that often times people find you on the internet but instead would rather visit your physical location or call instead of using your website to make their conversion. Offline conversions are pretty hard to track, but if you’re not tracking them, your ROI data about your online campaign will not be accurate and might lead you to under-budget your SEM program. Here are some techniques that can be used for a more accurate insight on your online SEM campaign.

Lead Measuring Techniques For Phone Calls:

Using our research and analysis, we have discovered a few effective ways to measure your phone leads that result directly from your online marketing strategy. Here are a few of them:

Campaign On / Campaign Off:
This method works by letting you see how many calls you are getting over a set period of time with your campaign turned on, verses how many calls you are getting over a set period of time with your campaign turned off. You can try this a few different times in order to get a better sense of where your phone calls are actually coming from.
Using Different Phone Numbers: While running a Pay Per Click campaign, your landing pages can actually have a different phone number than the other pages of your website. The only issue with this is that sometimes a person that found you through your PPC campaign will revisit the site through your regular url. While this strategy isn’t 100% accurate, it gives you an easy way to gauge the general success of your online marketing campaign.

Software To Track Your Calls: This is another method that can be extremely helpful, especially when running a mixed media campaign. What happens is that the software assigns different and unique telephone numbers for each search engine. If you also wanted to track beyond the media vendor, you can assign specific coupon codes or extensions through your listings. You can also use pop-up software that is able to initiate a call or voice chat that is then taken by a qualified sales person. The only problem with this method is that most often people have pop-up blockers enabled on their browsers.

Dynamic Reverse Proxy: The strategy I like the best is an intelligent system that that can differentiate the source of the visitor to the site. Depending on which source directed them there, the visitor will see a different phone number. Your telephone would ring just as it usually does, but all the calls will be tracked, the phone number of the caller, the length of time the call lasted, and the call will be recorded. Not only that, the actual voice conversation with your sales rep will be recorded as well for playback on demand.

Obviously phone calls that stem from your online marketing efforts are among your top KPIs (Key Performance Indicators). Many of these strategies are very easy and you can probably handle them yourself. You may want to get the advice of a certified Digital Marketing Consultant to really leverage the techniques and technology.

5 Ways to Improve Your Social Media Strategy

Chuck Bankoff - Wednesday, October 05, 2011

For some, “Social Media Optimization” is a buzz phrase with no definition. You know that you have to “do” Facebook, or that you have to Blog, but face it; you don’t really have a plan do you? The fact is that everyone is migrating to social media, whether they know it or not. Whenever you go online to see what other people are doing or what they recommend, you are leveraging Social Media whether you know it or not. If you use Social Media for business, why not take full advantage of a population of users that exceeds most major counties?

1. Focus On What Is Important

One of the most important things you can do is listen to what your customers are saying on their social media posts. This will help you gain a better understanding for their needs. Connect with them; see what they are up to. This will help you have a better understanding of what you can do to help them.

2. Personalities and Style Make a BIG Difference

When using social media tools like Facebook or Twitter, the two most dynamic ingredients for success are personality and style. This is often what makes the difference between a post and a viral post. It can also give you more credibility when it comes to being a trusted source in your industry.

3. Implement Good Habits In Your Strategies

Making sure your policies, guidelines and structure matches your company’s size. What may work for a smaller company won’t necessarily work with a large company. You will need to adjust these to fit your needs as your company grows. You will want your team to exhibit qualities that enhance your relationship with customers. Customers value quick, consistent and well-spoken responses and posts.

4. Rules and Regulations?

You will find that having a few rules and guidelines regarding your social media strategies will seem more and more necessary as your company grows. Keep in mind that every situation is different and that your may have to bend the rules when necessary. Trust your team’s intuition; don’t blindly lead wit a book of rules and regulations.

5. Utilize Metrics

In order to effectively manage you social media strategies, you should pay attention to metrics and tie in the social media aspect to you overall business goals. When starting up a brand new project, you should determine what metrics and goals you should set before getting started.

Wondering where to start with Social Media for your business? Let us offer you a Social Media readiness evaluation. We examine your company goals along with your existing assets to determine what is the best media and the best strategy for you.

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